Quote:
Originally Posted by BayMoWe335
I see people 45, 50, even older that still "save up" to go on a trip or "can't afford" to buy tires for their cars. WTF? Are people this bad at managing their money? If you're a kid, in college, or have extenuating circumstances, I can see it. If you're in an established job and can't manage to save anything, I wonder where it all goes.
My co-worker retired at 67 and flat out said he had $80,000 in 401k/cash and his land/house was worth about $350,000. That's it! How can you retire with that?
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I really don't get how those people get through life. I'm assuming those people that have to save up to go somewhere live well beyond their means and live paycheck to paycheck.
I also don't get how someone is retiring at 67 with only $430k to his name. What the hell did he do with all his money? Assuming he started working @ 22 he had 45 years to save up money. That means he saved up $9,555 PER year if you include the mortgage payments as "money saved." I just don't get it.
I'm a 20 year old with a net worth of ~$40k. I don't think I'm doing too bad
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